Creating a Learning Society
- A New Approach to Growth, Development, and Social Progress
- Narrated by: Sean Runnette
- Length: 12 hrs and 31 mins
- Unabridged Audiobook
- Release date: 06-16-16
- Language: English
- Publisher: Audible Studios
Regular price: $24.95
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In Creating a Learning Society, Joseph E. Stiglitz and Bruce C. Greenwald spell out the implications of this insight for both economic theory and policy. Taking as a starting point Kenneth J. Arrow's 1962 paper "Learning by Doing", they explain why the production of knowledge differs from that of other goods and why market economies alone are typically not efficient in the production and transmission of knowledge. Closing knowledge gaps, or helping laggards learn, is central to growth and development.
Combining technical economic analysis with accessible prose, Stiglitz and Greenwald provide new models of "endogenous growth", upending the received thinking about global policy and trade regimes. They show how well-designed government trade and industrial policies can help create a learning society; explain how poorly designed intellectual property regimes can retard learning; demonstrate how virtually every government policy has effects, both positive and negative, on learning; and argue that policymakers need to be cognizant of these effects. They provocatively show why many standard policy prescriptions, especially associated with "neoliberal" doctrines focusing on static resource allocations, impede learning and explain why free trade may lead to stagnation while broad-based industrial protection and exchange rate interventions may bring benefits, not just to the industrial sector but to the entire economy.
The volume concludes with brief commentaries from Philippe Aghion and Michael Woodford as well as from Nobel Laureates Kenneth Arrow and Robert Solow.
PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your My Library section along with the audio.